Damage Estimates From Hurricane Top $7 Billion

Hurricane Irene left 20 people dead, four million customers without power and potentially billions of dollars in damage from flooding and wind from the Carolinas through New England.

Hurricane damage could total $7 billion, according to the Kinetic Analysis Corp., which estimates the impact of natural and man-made disasters on the economy, CNN reported. Less than half of that — some $3 billion — will be covered by insurance, the company said.

Eqecat, a catastrophe risk modeling firm, said that South and North Carolina suffered between $200 million and $400 million in insured losses. And the Caribbean — including the Bahamas, Turks and Caicos and Puerto Rico — suffered damage ranging from $300 million to $600 million.

As of Monday morning, Vermont seemed to bear the brunt of flash flood damage from the hurricane, with some towns in the southern part of the state entirely covered by water. Officials began fanning across Vermont Monday morning to assess damage from treacherous flooding. More than 250 roads were closed, several of the state’s iconic covered bridges had washed away and some two dozen emergency shelters were “chock full” of people displaced from flooded homes, Gov. Peter Shumlin said.

Also, oil company ConocoPhillips that it had shut down its Bayway refinery in New Jersey as a result of the storm “until it is safe to resume operations.”

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